By Onu Okorie

Revenue Mobilisation Allocation and Fiscal Commission RMAFC has called for a fundamental shift in Nigeria’s fiscal governance approach.

The Commission made the call at a Stakeholders Strategic Retreat organised in partnership with the House of Representatives Committee on Finance, themed “Beyond Collection: Revenue Mobilisation for Economic Growth , Building Strategies for Efficient Resource Allocation.”

According to a statement by the Head of RMAFC’s Information and Public Relations Unit, Maryam Umar Yusuf, Abimbola, while Nigeria has made significant progress in expanding non-oil revenue through reforms, institutional strengthening and digitisation, more work remains to improve compliance, eliminate leakages and enhance institutional collaboration.

He urged for a move away from an overemphasis on revenue collection toward efficient resource allocation, transparency and accountability as pillars of sustainable economic growth.

Delivering opening remarks on behalf of RMAFC Chairman Dr. Mohammed Bello Shehu, the Federal Commissioner representing Oyo State, Hon. Kolade Daniel Abimbola, described the retreat as a strategic platform for reviewing Nigeria’s evolving fiscal landscape and developing practical solutions to strengthen domestic revenue mobilisation and improve resource allocation across all tiers of government.

He stressed that sustainable development depends not only on generating more revenue but on ensuring public resources are efficiently utilised for citizens’ benefit.

“The conversation must now move beyond simply collecting revenue. Every naira mobilised must be efficiently allocated, prudently managed, transparently accounted for and strategically invested in sectors that stimulate economic growth, create jobs and improve the welfare of Nigerians. That is the pathway to sustainable national development,” Abimbola said.

He reaffirmed the Commission’s constitutional responsibility to monitor accruals into and disbursements from the Federation Account, review the Revenue Allocation Formula and advise government on fiscal efficiency.

Shehu, in his remarks, stressed that stronger collaboration among fiscal institutions, the legislature, sub-national governments and the private sector — supported by emerging technologies such as artificial intelligence, data analytics and digital monitoring systems — would improve transparency, reduce leakages and strengthen evidence-based fiscal decision-making.

Declaring the retreat open on the Chairman’s behalf, Abimbola expressed confidence that the engagement would produce practical recommendations capable of strengthening Nigeria’s fiscal governance framework and supporting long-term economic development.

Also speaking, the Chairman of the House of Representatives Committee on Finance, Hon. James Abiodun Faleke, commended RMAFC for convening the retreat, describing it as an initiative that aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda. He emphasised that increased revenue would only translate into meaningful impact when accompanied by prudent allocation, effective oversight and fiscal discipline.

“Revenue, on its own, does not build roads, equip hospitals or improve the lives of our people. It is prudent allocation, effective oversight and fiscal discipline that transform public resources into tangible development outcomes. Our responsibility is to ensure that every naira works for the Nigerian people,” Faleke said.

He urged participants to produce practical recommendations aimed at strengthening legislative oversight, improving fiscal management and ensuring public resources deliver measurable value to Nigerians.

Speaking with journalists on the sidelines of the event, Abimbola disclosed that the Commission is advancing plans to deploy a real-time digital revenue monitoring dashboard to strengthen oversight of revenue collections across government revenue-generating agencies. He explained that the initiative would improve transparency, reduce leakages, enhance remittance monitoring and support more effective fiscal decision-making, while ensuring that increased public revenues translate into better infrastructure and improved social services.